Active Under Contract Property Status: Everything You Need to Know

Welcome to Green Realty, your trusted source for all your real estate needs. In this comprehensive guide, we will take an in-depth look at the active under contract property status, particularly within the business and consumer services - real estate category.

Understanding Active Under Contract Properties

When you come across a property listed as "active under contract," it indicates that an offer has been accepted by the seller, but certain conditions still need to be met before the sale can be finalized.

At Green Realty, we want to ensure that our clients have a clear understanding of this property status and its implications. Here are some key aspects to consider:

1. The Process

Once a buyer and seller reach an agreement and sign a contract, the property transitions into the active under contract status. During this period, several important steps take place:

• Property Inspections: The buyer typically schedules inspections to assess the property's condition and identify any potential issues.
• Financing Approval: In most cases, the buyer still needs to secure final loan approval to proceed with the purchase.
• Appraisal: The lender arranges an appraisal to determine the property's market value.
• Contingencies: The contract may include specific contingencies, such as the sale of the buyer's current home or the resolution of any outstanding legal matters.

2. Duration

The duration of the active under contract status can vary greatly depending on various factors, including the complexity of the transaction and the time required to satisfy all conditions. It typically ranges from a few weeks to a couple of months.

3. Benefits for Buyers

For buyers, an active under contract property can present unique opportunities:

• Less competition: Once a property is under contract, it is temporarily removed from the market, reducing the number of potential buyers.
• More time for due diligence: Buyers can use this period to conduct thorough inspections and ensure the property meets their requirements.
• Potential negotiation leverage: If issues are discovered during inspections, buyers can request repairs or renegotiate the terms of the purchase.

4. Implications for Sellers

Sellers should understand how the active under contract status impacts their selling process:

• Property visibility: While the property remains active under contract, it may still appear in search results, attracting interested buyers who could become backup offers if the current deal falls through.
• Continued marketing efforts: Realtors might continue to promote the property to gain additional exposure, increasing the chances of securing a backup offer.
• Risk of contract termination: Until all conditions are fulfilled, there is a slight risk that the deal might fall through.

5. Finalizing the Sale

Once all conditions are met, the active under contract property status transitions to "sold" or "closed." This signifies the completion of the sale and the transfer of the property to the buyer.

Why Choose Green Realty for Active Under Contract Properties?

At Green Realty, we have extensive experience handling active under contract properties in the real estate industry. We are committed to providing our clients with the highest level of professionalism, knowledge, and support throughout the entire process.

Our team of expert real estate agents understands the intricacies involved in active under contract transactions. We navigate through potential challenges while keeping our clients informed and empowered to make confident decisions.

When you choose Green Realty, you benefit from our:

• Expertise: Our agents have a deep understanding of the active under contract process and can guide you seamlessly through each step.
• Wide Network: With our extensive network and connections, we will help you find the perfect property that matches your needs and requirements.
• Effective Communication: Keeping you informed and ensuring your concerns are addressed promptly is our top priority.
• Negotiation Skills: With our strong negotiation skills, we strive to achieve the best possible terms and conditions for our clients.
• Personalized Approach: We recognize that every client is unique, and we tailor our services to meet your specific goals and preferences.

When it comes to active under contract properties, Green Realty is here to provide the guidance and expertise you need. Trust us to help you navigate this process smoothly and successfully.

Contact us today to learn more about our services or to schedule a consultation with one of our experienced real estate professionals.